Strategic move

Recently, the magazine has been facing a tougher business environment, as the entire publishing industry adapts to a more digitally engaged readership.

However, the company said Rolling Stone still reached 60 million readers a month and its digital and social media footprint was growing rapidly.

Wenner Media said it was exploring “strategic options” in an effort “to best position the brand for future growth”.

The company has already sold off its other titles Us Weekly and Men’s Journal to American Media, the publisher of the National Enquirer.

“We have made great strides transforming Rolling Stone into a multi-platform company, and we are thrilled to find the right home to build on our strong foundation,” said Wenner’s president and chief operating officer Gus Wenner in a statement.

The statement did not say if the company was already in talks with potential buyers.

Singapore-based BandLab Technologies also owns a 49% stake in the publication.